Do you or your family member have money stuck in Celsius?
Then this thread is for you
Here's what to expect next
What you should and should not do
What's next for users hurt by Celsius
Source: Department of Financial Regulation of Vermont
Reuters reported today Celsius is "DEEPLY INSOLVENT"
How did we get here?
Celsius were YOLOing customers' deposits
Celsius use leverage to gamble with customers' deposits and lost
Celsius bought illiquid shid that is hard to sell now without suffering losses
Celsius is being investigated by multiple states in the US
Celsius executives used customers deposits to pump $CEL token
Otter predicts Celsius executives and CEO were paid partially in $CEL tokens
They could then cash out high bonuses at the expense of depositors (95% certain)
Source: @0xb1 court filings, screenshot from @DefiMoon π¦π
Despite the repeated guarantees, Celsius was operating without regulatory oversight
In short, Celsius, @Alex Mashinsky and other Celsius directors and representatives LIED
Here's what Department of Financial Regulation had to say about HODL mode
it is an effective freeze of investor account
it did not prevent further declines in value (as opposed to what users were made to think)
6. Forced Hodl mode
Celsius is experiencing a bank run. To slow things down, they have gone against their promises and placed people on "HODL MODE". Asking users for more documents to withdraw funds.
This is a blatant move to stop withdrawals.
twitter.com/wallstreetpro/β¦
if you are still receiving rewards
you need to check with your tax accountant if these "rewards"
is a taxable event, despite being non-collectable at the moment
unfortunately, two wrongs don't make a right
be sure to check
(screenshod from @Simon Dixon (Beware Impersonators))
If you are a USA citizen affected by Celsius, you may file a complaint here
Let's see to it that everyone involved in rekting fellow hoomans see time behind bars
Open message to Celsius Directors & representatives - we are coming for you
dfr.vermont.gov/consumers/fileβ¦
Like and retweet the top tweet please
You may have been lucky to escape
But others were not
Some are too ashamed to seek help
Hurting from huge financial losses
You can read the unrolled version of this thread here: typefully.com/otteroooo/xaEOβ¦
otter out
last but most important
DO NOT send them more coins
DO NOT send a bankrupt company more coins no matter what they say